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i don't think it's in either party's interest to have massive tax hikes go in as planned. it will be dealt with. the economy will avoid a recession. congress and washington in general is not that irrational. >> so many head winds. in your view, bottom line, is the u.s. still the best house in a bad neighborhood? what should investors be doing? >> one should not panic. start to take money out of the bond portfolios that have been seeing massive inflows. perhaps some of the more cyclical names, move away from the dividend player that is are rich. the u.s. is the best house in the bad neighborhood. the good news is historically the u.s. has done well and grown even if the rest of the world economy is sort. low gdp. if we can get spark and resolution in the cliff, we'll do that. companies are in a position to spend and consumers need to buy things that they haven't spent much on. the outlook is still good. you should be allocated toward equities. >> joe, good to see you. thanks for joining us. >> my pleasure. >> back to maria with the rest of the program. >> thanks, bill. up n
i don't think it's in either party's interest to have massive tax hikes go in as planned. it will be dealt with. the economy will avoid a recession. congress and washington in general is not that irrational. >> so many head winds. in your view, bottom line, is the u.s. still the best house in a bad neighborhood? what should investors be doing? >> one should not panic. start to take money out of the bond portfolios that have been seeing massive inflows. perhaps some of the more...
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it is a progressive way of taxing. it is most stimulus thing you can do for the economy. >>> i don't get it give me the addition. why is that going to create more wealth? and spread it around? >> that's right. because you will increase the real incomes of the middle class of america. >> why? because they are going to have better jobs? >> no they'll have lower tax rates and less deductions, okay? that is the way it will average out. and they will be willing to spend, the same thing would be true of business. they would lose a lot of their deductions but they'll have lower rates. if you saw the numbers, okay, there is 1 frillian 12 libyan billion dollars that comes out of the tax revenue and 1 trillionian 1 lune hundred billion dollars that comes out of the legislation. >>> the elimination of the loophole, so to speak, the deduction, legitimate deductions, eliminates those. >> what loopholes? >> that takes care of the middle class. that will be spread out. >> revenue neutral. >> not bad. what is wrong with that. >> gover
it is a progressive way of taxing. it is most stimulus thing you can do for the economy. >>> i don't get it give me the addition. why is that going to create more wealth? and spread it around? >> that's right. because you will increase the real incomes of the middle class of america. >> why? because they are going to have better jobs? >> no they'll have lower tax rates and less deductions, okay? that is the way it will average out. and they will be willing to spend,...
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he cut taxes 19 times. he was at the top for education for the kids in his state. we know he has a record that he can bring to the rost of the country and we know he is a leader and not a politician and that's what we need in america. [applause] then look at paul ryan and you look at biden, oh my god. you know you sit there and you look at how intelligent and professional and what a respectful human being pool ryan was being during that and giving good information and good facts and all you could do is look at vice president biden and think what is so funny in reference to the security of our nation, what is so funny about making promises and not following through with a single one of them. do you remember president obama said he was going to cut -- he was going to cut the deficit in half during his first four years. did he do that? no, e he didn't. he said he was going to address immigration during his first year. he hasn't even touched it until the last few weeks in order to do a political gain playing with the his panics in this country only because it's time to
he cut taxes 19 times. he was at the top for education for the kids in his state. we know he has a record that he can bring to the rost of the country and we know he is a leader and not a politician and that's what we need in america. [applause] then look at paul ryan and you look at biden, oh my god. you know you sit there and you look at how intelligent and professional and what a respectful human being pool ryan was being during that and giving good information and good facts and all you...
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to get growth you should not raise taxes. it should lower the tax burden. we need to lower the overall burden if you can. then you need to do the things we talked about here. common sense energy policy. these are the areas that will create a framework that is conducive to growth. if the democrats will not go along, we should not raise taxes. we should lower them. >> what are your personal do you see yourself climbing to the highest rungs of the house? >> we will worry about those other issues and concerns after the election. i have been saying this. i believe it. we are at one of those historical moment for our country. we will decide to different directions we can go. it is one of those moments of magnitude. we always know the moment to never forget on a personal or family level. big goals you have any accomplish them. sometimes those moments of significant take a broader context. they apply to an entire country. we're at one of those moments. my focus is making sure we do everything we can to help mitt romney win. after that happens we will look at other
to get growth you should not raise taxes. it should lower the tax burden. we need to lower the overall burden if you can. then you need to do the things we talked about here. common sense energy policy. these are the areas that will create a framework that is conducive to growth. if the democrats will not go along, we should not raise taxes. we should lower them. >> what are your personal do you see yourself climbing to the highest rungs of the house? >> we will worry about those...
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rate. >> the 20% tax rate i think the people will understand that is a broad principle that that tax rate needs to come down and we need to broaden the base. that is the principle. also that we are not going to change the share of taxes paid by upper income earners and we will give tax relief to the middle class and going to be deficit neutral. you can do all those things and have people understand this election was about this and we need this kind of progrowth tax reform agenda and work out the details in the same way ronald reagan did with tip o'neill with working across the aisle. governor romney has a proven record of being able to work across the aisle. >> chris: there are a lot of questions from independent people how do you pay for it and you refuse to say how you will pay for it? >> we will pay for it by eliminating deductions and loopholes and making sure for the middle class that protecting the home mortgage deduction and other important deductions for them but at the high end you would eliminate deductions and a lot of special interest loopholes that would allow you you to
rate. >> the 20% tax rate i think the people will understand that is a broad principle that that tax rate needs to come down and we need to broaden the base. that is the principle. also that we are not going to change the share of taxes paid by upper income earners and we will give tax relief to the middle class and going to be deficit neutral. you can do all those things and have people understand this election was about this and we need this kind of progrowth tax reform agenda and work...
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proponents argue taxes from wider marijuana use would generate millions more for school construction. >> let's have marijuana tax money go to our schools rather than criminals in mexico. >> that argument falls flat with amie baca-oehlert, vice president of the colorado education association. baca-oehlert says legalizing marijuana contradicts the anti-drug message taught in schools. >> marijuana has impacts, negative impacts on attention span, brain development, all of these things that impact learning. >> reporter: colorado's governor and local law enforcement officials here worry about a potential conflict with federal law that makes possessing or growing marijuana a crime. >> jefferson county sheriff ted mink fears legallization will attract outsiders to grow here and sell to the rest of the country. >> i live in colorado most of my life and this is not what i think colorado is about, is to become the marijuana capital of the united states. >> reporter: state representative jonathan singer supports the idea of treating marijuana like alcohol. a former drug counselor, singer has seen
proponents argue taxes from wider marijuana use would generate millions more for school construction. >> let's have marijuana tax money go to our schools rather than criminals in mexico. >> that argument falls flat with amie baca-oehlert, vice president of the colorado education association. baca-oehlert says legalizing marijuana contradicts the anti-drug message taught in schools. >> marijuana has impacts, negative impacts on attention span, brain development, all of these...
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it is a far more efficient tax system so it gets this huge waste, this coefficient cost, not a bad tax system, a legal system, uncertainty. you would have had better growth. i'd think it was four to one, or whatever it was, but close enough would have been good enough. it does not have to be exactly right. once. starting a down, it would pay for a lot. >> the united states has been now growing at roughly half of what you might call the modern historic rate of economic growth. we're growing in fiscal 2002, give or take. if you were advising the next president, be it obama or romney, to sayublicly here are the few things we should do in order to generate economic growth, one would obviously be some kind of comprehensive budget deal, but what else would be the -- on the jamie dimon list? >> america is a great country. the president should recognize one thing for certain. i think this attitude is just not true. we of the best military on the planet and we will four years. we have the most transparent capital markets in spite of what happened. investment, of capital, private equity. we have
it is a far more efficient tax system so it gets this huge waste, this coefficient cost, not a bad tax system, a legal system, uncertainty. you would have had better growth. i'd think it was four to one, or whatever it was, but close enough would have been good enough. it does not have to be exactly right. once. starting a down, it would pay for a lot. >> the united states has been now growing at roughly half of what you might call the modern historic rate of economic growth. we're...
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. >>> you can cut tax rates bay 20% and still preserve these preferences for taxpayers. >> it is not mathematically possible. >> it is mathematically possible. >> it's never been done before. >> it's been done couple times. jack kennedy lowers tax rates. >> now you are jack kennedy. >> that is one of more mild ones in the debate last tuesday. some critics are calling biden's performance mocking and bullying. so here is the question we're asking today. are these the qualities that americans want in the next leader? let's bring in our political panel, julie is here fox news contributor and dede is strategist and mary walters a radio talk show host. let's start with you. what kind of influence do you think this will have on the eventually election? >> here is the think. i think biggest influence this guy is one thing by the way from the nuclear code. she laughing about various issues, libya, people dying. it was really weird. it was kind of creepy. this guy jumped on the crazy train and never got it. did it did influence folks knowing this guy could be the president one day. >> heather:
. >>> you can cut tax rates bay 20% and still preserve these preferences for taxpayers. >> it is not mathematically possible. >> it is mathematically possible. >> it's never been done before. >> it's been done couple times. jack kennedy lowers tax rates. >> now you are jack kennedy. >> that is one of more mild ones in the debate last tuesday. some critics are calling biden's performance mocking and bullying. so here is the question we're asking...
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that of course creates more tax revenue. in essence, you have more revenue that could be used in the government. so what we're looking at is -- >> by the way, just -- the 12 million figure that you guys like to use, economists have said if no one does anything, 12 million jobs are going to be added over the next few years. to say that 12 million jobs is an incredible achievement. >> i would say it's incredible when you look at president obama's current stagnant economy, when you're only seeing the gdp growing at 1.2%. and less than 114,000 jobs are being created a month. i mean it's just been, the way president obama has worked, where he's not been able to work with congress, not been able to provide the leadership to really get this economy going. just shows he has a failed policy that hasn't worked. we're seeing that medium household incomes have dropped. not enough jobs, jobs are not being created at the rate they should be created. under his plan, it would cost 700,000 jobs. that's not the plan we need to have for americ
that of course creates more tax revenue. in essence, you have more revenue that could be used in the government. so what we're looking at is -- >> by the way, just -- the 12 million figure that you guys like to use, economists have said if no one does anything, 12 million jobs are going to be added over the next few years. to say that 12 million jobs is an incredible achievement. >> i would say it's incredible when you look at president obama's current stagnant economy, when you're...
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kennedy tax cut. the taxes when kennedy was president were cut from 91% to 71%. the taxes were skewed toward the middle and lower class. the tax base was at 91 to 71 for the top margin. the tax rates for the top earners right now are fundamentally different. they're in the mid to high 30s. what i'm campaigning on is solving the fiscal crisis. and you know that if we don't have new revenue, that doesn't engage in tricks, the congressional research service says your tax cutting policy hasn't worked one time. paul ryan couldn't cite an example -- >> can i do a joe biden laugh now? >> sure, you can do it. you look terrific. you have teeth as good as his. >> i was just going to say i talked to a lot of major business leaders who want romney elected, but almost to a man and a woman they say, we're going to have to pay more taxes in our category. what they want to do, however, is to benchmark them against spending cuts so they can get spending down to 20% of gdp. there will have to be a combination in their judgment. and these are private business leaders who run big co
kennedy tax cut. the taxes when kennedy was president were cut from 91% to 71%. the taxes were skewed toward the middle and lower class. the tax base was at 91 to 71 for the top margin. the tax rates for the top earners right now are fundamentally different. they're in the mid to high 30s. what i'm campaigning on is solving the fiscal crisis. and you know that if we don't have new revenue, that doesn't engage in tricks, the congressional research service says your tax cutting policy hasn't...
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someone who believes we were better off eight years ago, going back to those policies, emphasizing tax cuts mainly for the wealthy, here is your man. if you want someone who will fight for you and will fight for middle-class tax cuts, then i am your man. i want to be. now, i doubt that anyone here makes more than $330,000 per year. if you do, you are in the top 1%. >> that would violate the rules. >> that i will not ask. [laughter] if everyone in the audience was in the middle of the middle class, the tax cuts for all of you added up would be less than the tax cuts that his plan would give to just one member of the top wealthiest 1%. >> you may not be one of those people, you're just up the right person. you talk about eight years? in eight years they have done nothing done on medicare. >> time to get something done. >> presidential town hall debates ought -- they began in 1992. in every election since, presidential hopefuls have taken questions from undecided voters. tuesday night, watch president obama and mitt romney in their town hall debate. >> former u.s. senator, arlen specter,
someone who believes we were better off eight years ago, going back to those policies, emphasizing tax cuts mainly for the wealthy, here is your man. if you want someone who will fight for you and will fight for middle-class tax cuts, then i am your man. i want to be. now, i doubt that anyone here makes more than $330,000 per year. if you do, you are in the top 1%. >> that would violate the rules. >> that i will not ask. [laughter] if everyone in the audience was in the middle of...
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he's going to be completely different than his tax return father. and i said this created perhaps too high expectation the west of exactly what you want to do and which are able to do. >> where were your meetings held? >> they were held in paris places, usually in the presidential building, a very modest building in a district of damascus. i mean, very modest. it's a typical middle-class residential apartment building transformed into a president -- the quality presidential palace. it's not at all. that's where he mainly works. the street is blocked off. but we also met and what is called the people's palace, which was built by his father, this grand structure in the top of the mountain overlooking damascus. i mean, it is a palace and then some, but he hardly ever goes there no minis dignitaries. the only reason i met them there one time was he was meeting with mock mohammed in the shed, the iranian president. i met with him just after that. i think i can say this now considering this current circumstances, but i asked him, mr. president, what you t
he's going to be completely different than his tax return father. and i said this created perhaps too high expectation the west of exactly what you want to do and which are able to do. >> where were your meetings held? >> they were held in paris places, usually in the presidential building, a very modest building in a district of damascus. i mean, very modest. it's a typical middle-class residential apartment building transformed into a president -- the quality presidential palace....
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. >> i can put up with a lot from government, like higher taxes. and while i don't like it, pushing god out of public schools but letting a small number of government and business elites and judges define what marriage is to minnesotans doesn't seem very fair. >> amendment opponents have their own take on government interference. >> government should not be telling people who to fall in love with. government should not be telling people who to cohabit with. >> some big employers like cereal maker general mills have publicly opposed the amendment, arguing it would hurt recruitment. others have stayed neutral but say they support their gay employees and customers. retailer target notes that its marriage registry welcomes gay couples. however, unlike many other state campaigns, some of the most prominent no voices have also come from pulpits and preachers. >> many campaigns have run away from religion in the past, trying to say there's a separation of religion and state. whereas in minnesota, i think we have embraced the idea that a person of faith ca
. >> i can put up with a lot from government, like higher taxes. and while i don't like it, pushing god out of public schools but letting a small number of government and business elites and judges define what marriage is to minnesotans doesn't seem very fair. >> amendment opponents have their own take on government interference. >> government should not be telling people who to fall in love with. government should not be telling people who to cohabit with. >> some big...
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now is like that cartel of high tax countries and the european union is trying to harmonize tax policy to harmonize tax rates and harmonize regulations and eliminate competition that is a bad thing. all countries come into existence. areas that are not in and now become independent countries in the future there is more competition there will be lower taxes less spending every few regulations that the more free market policies because we because countries need to compete for capital for talent and that is what drives economic growth one man does that let's leave it right there thank you very much for your thoughts on this time mendoza from the libertarian party of the netherlands by turkey has not closed our i.d.'s and space to syrian civilian flights echoing a similar move by damascus this week to intercepted a syrian passenger plane claiming it carried russian made me nish and the government forces also says the only call go was only electronic equipment for radio stations and all of. it we're not going to school reports. they pointed their guns at those hungover from the put those on
now is like that cartel of high tax countries and the european union is trying to harmonize tax policy to harmonize tax rates and harmonize regulations and eliminate competition that is a bad thing. all countries come into existence. areas that are not in and now become independent countries in the future there is more competition there will be lower taxes less spending every few regulations that the more free market policies because we because countries need to compete for capital for talent...
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many do not have statewide taxes such as personal corporate income tax or sales tax. the top three have no corporate individual income taxes. at the bottom of the barrel when it comes to taxes and climate overall for job creating firms the worse five, rhode island, vermont, california, new jersey and dead last, number 50, new york. the states in the bottom ten all had this in common. they suffer from complicated nonneutral taxes with high rates compared to other places. now, the winner for most improved, maine. it went from 37th to 30th overall mainly because it repealed its alternative minimum tax. michigan also jumped in ranking by replacing the michigan business tax with a flat corporate income tax. this year these rankings are all the more interesting because so many cash starved states have been making changes and reforms and that can significantly change their rankings. back to you. >> shannon: brenda buttner. thank you very much. that is it for us here in washington. do not miss "fox news sunday" next. chris wallace is previewing the second presidential debate
many do not have statewide taxes such as personal corporate income tax or sales tax. the top three have no corporate individual income taxes. at the bottom of the barrel when it comes to taxes and climate overall for job creating firms the worse five, rhode island, vermont, california, new jersey and dead last, number 50, new york. the states in the bottom ten all had this in common. they suffer from complicated nonneutral taxes with high rates compared to other places. now, the winner for most...
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specifically the 20% across the board tax cut. why are they being so vague and will governor romney get specific at this debate? >> you know, it's funny. it cuts both ways. i think the reason they're not going specific is because they don't want to be attacked. they put the romney and ryan ticket on the defense. but i've heerd governor romney say this. he says i want to work in a bipartisan way. i want to work with democrats on capitol hill. i want to do what george w. bush did with no child left behind. that's to allow the congress -- that is to allow the legislative branch to be a part of the process. and thus in the process create or draft a piece of legislation that we can all work with. so i think it's a combination of both answers, alex. >> president obama had tough reviews following the first debate. what do you think is the greatest challenge in round two? >> the white house said to make adjustments. i think it's to make the adjustments without overcorrecting in some way. i don't think the voters want him to come out compl
specifically the 20% across the board tax cut. why are they being so vague and will governor romney get specific at this debate? >> you know, it's funny. it cuts both ways. i think the reason they're not going specific is because they don't want to be attacked. they put the romney and ryan ticket on the defense. but i've heerd governor romney say this. he says i want to work in a bipartisan way. i want to work with democrats on capitol hill. i want to do what george w. bush did with no...
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pledge and no new taxes. does that fit your bill? by the way, i'm not actually promising you a tax cut. it might just come out even. >> the only confusion is people don't -- >> that's fine with you. sorry. >> he wants to reduce marginal tax rates across the board for all americans, 20%, which is what reagan did, which is at john f. kennedy did. he also wants to do what reagan did in 1986, which is to have it end towards revenue neutrality and job creation as reagan and kennedy gave you, and eliminating some deductions and credits, all the tax credits that have funneled money to the administration's friends, not help the economy. let's get rid of those kind of corrupt deductions and credits and raise some money at the same time, but net, it's going to be a revenue-neutral at worst or a tax cut. >> part of what happened in the first debate, i think, and this will run back into the tax issue, is that people saw mitt romney and some thought, oh, he is not this scary person we've seen in the ads. he seemed reasona
pledge and no new taxes. does that fit your bill? by the way, i'm not actually promising you a tax cut. it might just come out even. >> the only confusion is people don't -- >> that's fine with you. sorry. >> he wants to reduce marginal tax rates across the board for all americans, 20%, which is what reagan did, which is at john f. kennedy did. he also wants to do what reagan did in 1986, which is to have it end towards revenue neutrality and job creation as reagan and kennedy...
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abortion, one, afghanistan another, medicare, taxes. that's what the obama campaign came out of saying that's where they thought he scored. they're -- they spent this weekend an they're going to spend every moment talking to people, figuring out which ones they can now exploit. chris: it's about policy differences. >> and trying to reach the groups. they're very precise about what sort of margins they need in certain groups, and how do they exploit that. that makes an overarching argument, but how do they move voters in the votes they need in the swing states? >> the issue that hasn't come up yet is immigration. we know how important latinos are in the swing states. chris: we asked the matthews meters -- could the obama team have played things smarter after the debacle in denver in that first debate? 11 say yes, they could have done it better. one person said something like, "heck, yeah." and some lodged their votes with multiple exclamation points. including you, john. [laughter] >> i was in all caps with a lot of exclamation points. c
abortion, one, afghanistan another, medicare, taxes. that's what the obama campaign came out of saying that's where they thought he scored. they're -- they spent this weekend an they're going to spend every moment talking to people, figuring out which ones they can now exploit. chris: it's about policy differences. >> and trying to reach the groups. they're very precise about what sort of margins they need in certain groups, and how do they exploit that. that makes an overarching...
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renewals or any new tax if they don't live there any more? it's kind of a ridiculous argument, and again, i come back to individuals who have not voted in two consecutive federal elections after you've been on the list, and that's important to indicate. you haven't voted in almost half a decade and almost the mail is being returned or any attempt is being ignored. so i don't understand what the big argument is over this. we're just doing our job, and every secretary of state in the country has to do it. they have to follow federal and state law. >> the way to get off that list, vote. >> just go vote. >> all right. secretary of state tom schedler, thank you so much. here's their address, by the way. we'll be right back. th stain-blocker from the home depot... ...the best selling paint and primer in one that now eliminates stains. so it paints over stained surfaces, scuffed surfaces, just about any surface. what do you say we go where no paint has gone before, and end up some place beautiful. more saving. more doing. that's the power of the hom
renewals or any new tax if they don't live there any more? it's kind of a ridiculous argument, and again, i come back to individuals who have not voted in two consecutive federal elections after you've been on the list, and that's important to indicate. you haven't voted in almost half a decade and almost the mail is being returned or any attempt is being ignored. so i don't understand what the big argument is over this. we're just doing our job, and every secretary of state in the country has...
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don't raise taxes on small businesses. they're our job creators. >> smiling and laughing while congressman ryan was talking about serious issues. was his body language at all, his facial expressions counterproductive? >> not at all. i'm happy to defend my dad. i don't think he needs defending. anytime folks on the far right are going after my father for smiling too much, that's a victory. my father spoke clearly to the american people about the facts. he did that for 90 minutes straight. this is not about how much my father smiled or how many gallons of water the congressman drank nervously on the stage. it's about talking directly to the american people about very important facts. what you say from my father was him articulating the vision that he and the president have and continuing to build the middle class out and take the country forward. i was struck by paul ryan on a number of fronts. especially the position on afghanistan. i feel very strongly about that. >> i want to get to that -- go ahead, i'm sorry. >> yeah, s
don't raise taxes on small businesses. they're our job creators. >> smiling and laughing while congressman ryan was talking about serious issues. was his body language at all, his facial expressions counterproductive? >> not at all. i'm happy to defend my dad. i don't think he needs defending. anytime folks on the far right are going after my father for smiling too much, that's a victory. my father spoke clearly to the american people about the facts. he did that for 90 minutes...
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he won't talk as katrina mentioned how you do the tax plan. when he does a foreign policy speech as he says is, "i'll be tougher than barack obama" without saying what he will and endorses most of barack obama's foreign policy. so what we're getting a lot from quar campaign-- you guys are really good at this. i don't work for a campaign so it's not kind of an even fight here-- from your campaign a lot of top-line rhetoric-- i'm strong, he's weak, i can make the economy better. he can't, without either filling in the specifics-- >> the specifics are there. >> go back to the one thing-- >> how to create jobs. >> go back to the one big issue, the big tax cut plan. he will not say how to pay for it. in fact they say over and over again we don't want to give that away. it's like it-- you remember nixon's secret plan-- you remember nixon's secret plan to end the vietnam war? it didn't exist. he just said he had one, and we see the same thing. you guys are so smart. if paul ryan is such a smart guy, he should be able to explain this. >> listen, we do
he won't talk as katrina mentioned how you do the tax plan. when he does a foreign policy speech as he says is, "i'll be tougher than barack obama" without saying what he will and endorses most of barack obama's foreign policy. so what we're getting a lot from quar campaign-- you guys are really good at this. i don't work for a campaign so it's not kind of an even fight here-- from your campaign a lot of top-line rhetoric-- i'm strong, he's weak, i can make the economy better. he...
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tax cut unless you give the tax cut for the super wealthy. it is about time they take some responsibility. >> joe and i are from similar towns. do you know what the unemployment rate in scranton is today? 10%. that is how is going all around america. >> that is not how it is going. it is going down. >> did they inherit a tough situation? absolutely. but we're going in the wrong direction. the economy is barely limping along. job growth in september was slower than it was in august and august was slower than it was in july. we're heading in the wrong direction. 23 million americans are struggling for work. 15% of americans are living in poverty. this is not what a real recovery looks like. we need real reforms for a real recovery. that is exactly what we are proposing. get america energy independent by the end of the decade. get this deficit and debt under control. make trade work for america. champion small businesses, do not raise taxes on small businesses. they are our job creators. he talks about detroit. mitt romney is a car guy. this is
tax cut unless you give the tax cut for the super wealthy. it is about time they take some responsibility. >> joe and i are from similar towns. do you know what the unemployment rate in scranton is today? 10%. that is how is going all around america. >> that is not how it is going. it is going down. >> did they inherit a tough situation? absolutely. but we're going in the wrong direction. the economy is barely limping along. job growth in september was slower than it was in...
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Oct 14, 2012
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this is a tax in and of itself. i'll call it the economy tax. i'm not going to raise taxes on anyone. my plan is to bring down rates to get more people working. my priority is putting people back to work in america. i'm mitt romney and i approve this message. >> welcome back. john, tell me something i don't know. >> clinton is doing a lot of stuff for president obama, raising a lot of money. he's in a lot of the ads. look, you've still not done a joint campaign event so far. there's time reserved in the homestretch. you're going to see bill clinton and barack obama together a lot. chris: like the old motorcades with ike and dixon, the canons of new york. i love it. tell me something i don't know. >> early voting, as we all know, has been going on, and we're starting to get some indication of how it's going. over half a million votes have already been cast. both sides are spinning the numbers. so far it looks like republicans are doing better than they did in 2008 and the democrats are doing better also, solt margin is smaller than it was at some
this is a tax in and of itself. i'll call it the economy tax. i'm not going to raise taxes on anyone. my plan is to bring down rates to get more people working. my priority is putting people back to work in america. i'm mitt romney and i approve this message. >> welcome back. john, tell me something i don't know. >> clinton is doing a lot of stuff for president obama, raising a lot of money. he's in a lot of the ads. look, you've still not done a joint campaign event so far. there's...
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Oct 14, 2012
10/12
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MSNBC
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doing tax cutting. we should have spent the whole trillion. the bottom line, we have a spending driven economy. when you have consumeser withdraw spending partly out of terror, they're losing value on their homes, banks withdrawing lending. you sucked all of that money and spending out of the economy, someone has to replace it. we've always had the government step in and replace that spending. we did it with fdr, even george w. bush did it. he hired a lot of government workers during the recession. >> post 9/11 we don't think of the tsa as a government jobs program, that's what it is. >> when i was in the bush administration, we didn't have four years of $1 trillion deficits. >> no. you created them. you made them. >> no, we did not. >> it was not a spending caused deficit. it was a war caused and tax cut caused deficit. >> not such a high def sit as we have now. they were not cuts in marginal tack rates. they were giving back money to people in terms of programs -- >> not stimulative. >> look, everyone
doing tax cutting. we should have spent the whole trillion. the bottom line, we have a spending driven economy. when you have consumeser withdraw spending partly out of terror, they're losing value on their homes, banks withdrawing lending. you sucked all of that money and spending out of the economy, someone has to replace it. we've always had the government step in and replace that spending. we did it with fdr, even george w. bush did it. he hired a lot of government workers during the...
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Oct 14, 2012
10/12
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why is it all right to tell voters about the candy, everybody gets a 20% tax cut -- cut in their tax rates and let's not tell them about the spinach, where you lose deductions. >> in a campaign environment, to start negotiating in a campaign environment you will lock in republicans and lock in democrats... >> chris: you locked in the 20% tax rate. >> i think people understand that that is a broad principle, that that tax rate needs to come down and we need to broaden the base. that is the principle, the principle is also that we are not going to change the share of taxes paid by upper income iners and give tax relief to the middle class and it will be deficit neutral and you can do all of those things and have people understand that that election was about this and we need this kind of pro-growth tax reform agenda. and, then work out the details in the same way, ronald reagan did with tip o'neill and working across the aisle. the governor has a proven record of being able to work across this aisle. >> chris: there are a lot of question from independent people, how do you pay for it a
why is it all right to tell voters about the candy, everybody gets a 20% tax cut -- cut in their tax rates and let's not tell them about the spinach, where you lose deductions. >> in a campaign environment, to start negotiating in a campaign environment you will lock in republicans and lock in democrats... >> chris: you locked in the 20% tax rate. >> i think people understand that that is a broad principle, that that tax rate needs to come down and we need to broaden the base....
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Oct 14, 2012
10/12
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i don't think it is either party's interest to have these massive tax hike and spending cuts go in as currently planned. it will be dealt. the economy will avoid a recession. congress and washington in general is not that irrational. >> so many cross currents and headwinds. in your view, is the the u.s. the best house in a bad neighborhood right now? what should toward be doing right now in your view. >> one should not panic. i would take money out of the bond portfolios and allocate in to equities and perhaps cyclical names and move away from the players that are rich. the u.s. is the best house in a bad neighborhood. the u.s. has done well and grown even if the world economy is soft as it is now. exports are a low share of gdp. if we can get some spark and resolution of the election and the cliff we will do that. companies are in a position to spend and consumers need to buy things they haven't spent much on the last few years. the outlook is good. you should be allocated heavily toward equities. >> always good to see you. thank you for joining us. >> thank you, bill. my pleasure. >
i don't think it is either party's interest to have these massive tax hike and spending cuts go in as currently planned. it will be dealt. the economy will avoid a recession. congress and washington in general is not that irrational. >> so many cross currents and headwinds. in your view, is the the u.s. the best house in a bad neighborhood right now? what should toward be doing right now in your view. >> one should not panic. i would take money out of the bond portfolios and...
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Oct 14, 2012
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they have high taxes. so, i think -- i question the premise that you are working on. >> josh. >> i think we somewhat overstate the ability of the government to shape the nature of the economy here. do we want category killers? it's not something that arose because of public policy. it arose because it would have happened regardless of what policy was. there are policy concerns to address but i think a lot of the stuff is out of control of the president. >> all of this is, you know, comes from our liability roles, from our anti-trust rules. >> exactly. there's a huge legal -- let me say this as a final note. if the goal is entrepreneurial capital, you need a financial system that works much better than the one we have now. right now, american finance is failing to do the single thing it's supposed to do, which is to channel the money of savers into productive investment. $8 trillion of cash on the sidelines. you have boom and bust cycles, the worst crisis for 70 years. to me, the thing upstream of this is r
they have high taxes. so, i think -- i question the premise that you are working on. >> josh. >> i think we somewhat overstate the ability of the government to shape the nature of the economy here. do we want category killers? it's not something that arose because of public policy. it arose because it would have happened regardless of what policy was. there are policy concerns to address but i think a lot of the stuff is out of control of the president. >> all of this is, you...